Italy's second-tier football league, Serie B, "will introduce a player salary cap next season in a bid to save cash-strapped clubs from extinction," according to REUTERS. In a statement, Serie B said, "It was unanimously decided that contracts starting from July 1 must be standardised with a fixed and variable element each not exceeding €150,000 ($192,900) gross." Serie B sides "have long suffered from low crowds, dilapidated stadiums, reduced television income and a lack of transfer income with the top flight Serie A teams often preferring to look abroad for new recruits" (REUTERS, 3/26). The AP reported under the system approved Tuesday, "contracts signed by players starting July 1 will have a maximum value" of €300,000 ($385,000) per season before taxes -- divided into a maximum of €150,000 for the fixed part of the contract and a maximum of €150,000 in bonuses. Serie B President Andrea Abodi said the new rules represent "further steps forward toward financial sustainability of our clubs.'' Clubs that violate the cap "will receive penalties on their shared income, such as TV revenues" (AP, 3/26).
